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TSMC Sales Soar to Record on Demand for Smartphones, Cars

by Euro Times
April 8, 2022
in Finance
Reading Time: 2 mins read
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(Bloomberg) — Taiwan Semiconductor Manufacturing Co. income rose to a file within the first quarter on demand for chips utilized in smartphones, computer systems and automobiles, whereas a chronic scarcity helped to spice up costs.

Most Learn from Bloomberg

Income jumped 36% to NT$491.1 billion ($17 billion) within the three months via March, the corporate stated in an announcement Friday. Analysts estimated NT$469.4 billion on common. TSMC, the world’s largest contract chipmaker, is slated to report full earnings later this month.

Demand for cell phones, good televisions and different devices from makers corresponding to Apple Inc. and Samsung Electronics Co. stays strong whilst customers in main markets in Europe and the U.S. exit pandemic-era lockdowns and work-from-home preparations. In the meantime a chip scarcity is but to ease — the wait occasions for semiconductor supply grew once more in March attributable to China’s Covid lockdowns and a Japan earthquake that hit manufacturing, in line with analysis by Susquehanna Monetary Group.

TSMC to Spend at Least $40 Billion to Handle Chip Scarcity

TSMC has stored manufacturing operating in China, whilst many different factories suspended operations to deal with the native pandemic coverage. The chip assembler stated in end-March that it’s going to rearrange manufacturing priorities to take care of a shift in demand attributable to Covid restrictions in Shanghai and Shenzhen. TSMC wasn’t planning to revise down its gross sales and capital spending forecasts for 2022, Chairman Mark Liu stated on the time.

What Bloomberg Intelligence Says:

TSMC’s stock technique on key supplies corresponding to silicon wafers and industrial gases will likely be a key focus on the 1Q outcomes briefing, as rising geopolitical stress and sluggish international wafer capability features preserve the availability image foggy.

– Charles Shum, analyst

Click on right here for analysis

Shares of TSMC have misplaced about 8% this yr, harm by a broader decline in international expertise shares and China’s lockdowns which have weighed on shopper demand and affected provide chains. The inventory superior 0.2% on Friday forward of the corporate’s report.

Shanghai Lockdown Will Weigh on Market Sentiment: Chen (Video)

Most Learn from Bloomberg Businessweek

©2022 Bloomberg L.P.



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